Crude oil prices edged higher in Asian trade on Tuesday amid hopes of a fuel demand recovery from top importer China, although concerns about a slowdown in the U.S. economy capped gains.
Brent crude was down 7 cents to $88.12 per barrel by 0715 GMT, after rising to a session high of $88.36. U.S. West Texas Intermediate crude rose 5 cents to $81.67, after climbing to $81.88 earlier in the session.
"Besides, the greenback hovering around a multi-month low is buttressing oil prices," independent oil market expert Sugandha Sachdeva said. In the United States, "the economy still could rollover and some energy traders are still sceptical on how quickly China's crude demand will bounce back this quarter," OANDA analyst Edward Moya said in a note.
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